Segment, Major Customer and Major Supplier Information (Tables)

9 Months Ended

Dec. 31, 2023

The following table displays Adjusted EBITDA by reportable segment.


	Three Months Ended December 31,				Nine Months Ended December 31,
in millions	2023		2022		2023		2022
North America	$	165	$	124	$	539	$	542
Europe	59		38		247		195
Asia	81		60		250		267
South America	150		124		327		407
Eliminations and Other	(1)		(5)		(4)		(3)
Adjusted EBITDA	$	454	$	341	$	1,359	$	1,408

The following table displays net sales by product end market.


	Three Months Ended December 31,				Nine Months Ended December 31,
in millions	2023		2022		2023		2022
Beverage packaging(1)	$	1,909	$	1,998	$	5,636	$	6,800
Automotive	892		934		2,881		2,876
Aerospace and industrial plate	164		180		519		543
Specialty	970		1,089		3,097		3,870
Net sales	$	3,935	$	4,201	$	12,133	$	14,089

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(1)Prior to the three months ended September 30, 2023, we utilized the term "can" for the beverage packaging end market. This change is solely to align the terminology with that being currently used by the Company and does not impact the amounts presented.

Reconciliation from income from reportable segments to "Net income attributable to out common shareholder"

The table below displays the reconciliation from net income attributable to our common shareholder to Adjusted EBITDA.


	Three Months Ended December 31,				Nine Months Ended December 31,
in millions	2023		2022		2023		2022
Net income attributable to our common shareholder	$	121	$	12	$	434	$	502
Net loss attributable to noncontrolling interests	—		—		—		(1)
Income tax provision (benefit)	54		(6)		159		146
Loss from discontinued operations, net of tax	—		—		—		2

Income from continuing operations before income tax provision	175		6		593		649
Depreciation and amortization	139		133		406		405
Interest expense and amortization of debt issuance costs	73		75		228		198
Adjustment to reconcile proportional consolidation(1)	8		13		33		40
Unrealized (gains) losses on change in fair value of derivative instruments, net	(15)		1		4		(20)
Realized gains on derivative instruments not included in Adjusted EBITDA(2)	—		(1)		(4)		(3)


Loss on extinguishment of debt, net	—		—		5		—
Restructuring and impairment expenses, net	26		5		33		7
Loss on sale or disposal of assets, net	4		—		4		1

Metal price lag	45		109		62		130

Other, net	(1)		—		(5)		1
Adjusted EBITDA	$	454	$	341	$	1,359	$	1,408

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(1)Adjustment to reconcile proportional consolidation relates to depreciation, amortization, and income taxes of our equity method investments. Income taxes related to our equity method investments are reflected in the carrying value of the investment and not in our consolidated income tax provision (benefit).

(2)Realized gains on derivative instruments not included in Adjusted EBITDA represents foreign currency derivatives unrelated to operations.

Net sales to largest customers, as a percentage of total Net sales

The following table displays customers representing 10% or more of our net sales for any of the periods presented and their respective percentage of net sales.


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Ball	15	%	16	%	13	%	16	%

Percentage of total combined metal purchases

The table below shows our purchases from Rio Tinto as a percentage of our total combined metal purchases.


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Purchases from Rio Tinto as a percentage of total combined metal purchases	9	%	9	%	9	%	8	%